# Table 18: Counterfactual — CCA Countries at Baltic Governance

Interaction coefficient (Z₁×gov): -32.689**

| Country | Actual Gov | Baltic Gov | Actual CA/GDP | ΔCA/GDP | Counterfactual CA/GDP |
|---|---|---|---|---|---|
| ARM | -0.19 | 0.85 | -3.83 | 10.79 | 6.96 |
| AZE | -0.50 | 0.85 | 4.39 | 48.21 | 52.60 |
| BLR | -0.58 | 0.85 | -2.05 | -18.53 | -20.58 |
| GEO | 0.60 | 0.85 | -8.88 | -0.11 | -9.00 |
| KAZ | -0.30 | 0.85 | -3.48 | 50.08 | 46.61 |
| KGZ | -0.82 | 0.85 | -11.44 | 102.66 | 91.22 |
| MDA | -0.49 | 0.85 | -7.12 | 2.19 | -4.93 |
| MNG | -0.29 | 0.85 | -11.28 | 72.28 | 61.00 |
| RUS | -0.60 | 0.85 | 3.96 | -13.62 | -9.66 |
| TJK | -1.18 | 0.85 | -3.05 | 171.64 | 168.60 |
| TKM | -1.45 | 0.85 | -8.77 | 153.30 | 144.52 |
| UKR | -0.63 | 0.85 | -1.59 | -28.24 | -29.83 |
| UZB | -1.07 | 0.85 | -1.54 | 113.39 | 111.85 |